CryoLife Inc (NYSE:AORT)'s stock, trading under the ticker AORT, has reached a new 52-week high, touching the $30.04 mark. With a market capitalization of $1.25 billion, the medical device company has shown remarkable momentum, as revealed by InvestingPro data. This milestone reflects a significant uptrend for the company, which has seen an impressive 68.73% increase over the past year. The company's strong revenue growth of 13.29% and analyst price targets ranging from $32 to $35 underscore market optimism. Investors have shown growing confidence in CryoLife's market position and future prospects, contributing to the stock's robust performance and its climb to this new peak. The 52-week high serves as a testament to the company's resilience and potential for growth amidst a dynamic economic landscape. For deeper insights into AORT's valuation and growth metrics, access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Artivion Inc. reported strong financial performance in its third-quarter earnings call for 2024. The medical device company noted a 10% year-over-year increase in revenues, reaching $95.8 million, and a significant 28% rise in adjusted EBITDA to $17.7 million. This growth was primarily driven by robust sales of key products and expansion in international markets, specifically Latin America and Asia Pacific.
Artivion's projections for the full year anticipate revenue growth of 10% to 12%, with expected revenues between $389 million and $396 million. Adjusted EBITDA for the full year is predicted to be between $69 million and $72 million, representing a 28% to 34% increase. The company also plans a net leverage decrease to 3.5x by year-end.
Recent developments include the successful filing of the first module of the AMDS PMA and NMPA approval for BioGlue in China. The company's U.S. market share increased by 55%, with the On-X low INR valve showing a significant reduction in major bleeding. However, Artivion's tissue processing growth was modest at 2%, affected by lower donor allograft volumes.
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